https://www.taxtmi.com/caselaws?id=440960 The High Court upheld the decisions of the lower authorities in the Sales Tax Revisions, dismissing the petitioner's appeals challenging the best judgment assessments of gross profit for the sale of alcohol. The court emphasized the assessing authority's discretion in making fair and rational estimates, highlighting the importance of honest guesswork in such assessments. Despite the petitioner's arguments and previous lower assessments, the court declined to interfere, citing precedents where it refrained from substituting its judgment for that of the assessing authority in best judgment assessments. en-us Tue, 23 May 2023 00:00:00 +0530 Sun, 30 Jul 2023 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440960 The High Court upheld the decisions of the lower authorities in the Sales Tax Revisions, dismissing the petitioner's appeals challenging the best judgment assessments of gross profit for the sale of alcohol. The court emphasized the assessing authority's discretion in making fair and rational estimates, highlighting the importance of honest guesswork in such assessments. Despite the petitioner's arguments and previous lower assessments, the court declined to interfere, citing precedents where it refrained from substituting its judgment for that of the assessing authority in best judgment assessments. Case-Laws VAT and Sales Tax Tue, 23 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440960